False London Breakout Strategy

[shandy]

Originally Posted by shandy

So a nice EU trade so far, divergence, with trend. Still to reach target of course (and let's see if it reaches S1).

GU a tricky one. Had divergence at yesterdays high and R1, and a pin bar followed by a doji / spinning top, so could have been a failed short entry. In this situation perhaps best to wait for break of the doji low?

EU scuppered by the US GDP news - may have just made the target at 1:3 I guess, dependant on where the SL was...

[kodziro]

Originally Posted by shandy

So a nice EU trade so far, divergence, with trend. Still to reach target of course (and let's see if it reaches S1).

GU a tricky one. Had divergence at yesterdays high and R1, and a pin bar followed by a doji / spinning top, so could have been a failed short entry. In this situation perhaps best to wait for break of the doji low?

There wasn’t any valid signal today. Take notice what price ( candle) tell you. No tops to define divergence, candle was ranging. No price action. Series of small candle bodies ( ranging most time ) in area of SUP/RES tell us to avoid a trade until we see clear signal.

[kodziro]

Friday`s setup :

E\U: trend + div

E\G: trend + daily high

[kodziro]

Two valid singals from yesterday, one from today.

[shandy]

Hi Kodziro,

nice trades again. You were going to post up your results / statistics I think, are you still planning to do so?

[kodziro]

Originally Posted by shandy

Hi Kodziro,

nice trades again. You were going to post up your results / statistics I think, are you still planning to do so?

Hello

Yes, I will post first 4-week results ( 21.09-16.10) at this weekend.

[kodziro]

Today`s setup :

[kodziro]

Hi.

Result 4 weeks (21.09-16.10)

Total trades: 24

TP1: WIN 20 LOSS 4
TP2: WIN 10 LOSS 14

Assuming that all trade was taken:

Profit: (TP1) =+910 pips , (TP2)=+998 pips

------------------------------
Notes:
- only move my stop loss to BE after end of the day if TP2 not hit
- Most import thing : Patience, Discipline, Consistence ( if you play with BE do it in every trade, if you decide to TP at some level defined by your way always stick with it.
- Remember I define my TP = 3*SL yours could be different ,important is a valid signal. Later on you can do whatever you want depending what is your trading style.


Cheers.

[kc0793]

Hi Kodziro, those are some fantastic results. I have a few questions:
1) Do you adjust for daylight time shift? You take 0000-0800 GMT, during the summer months, London actually opens at 0700 GMT, now in the winter months, London opens at 0800 GMT. Do you stick with 0000-0800, or change it to 0000-0900 or 0100-0900?
2) The daily high or low that you take is GMT based? That is, you take 0000-2400GMT as the daily range?
3) Even after TP1 is hit, you dont move your SL to BE?
Thanks

[kodziro]

Originally Posted by kc0793

Hi Kodziro, those are some fantastic results. I have a few questions:
1) Do you adjust for daylight time shift? You take 0000-0800 GMT, during the summer months, London actually opens at 0700 GMT, now in the winter months, London opens at 0800 GMT. Do you stick with 0000-0800, or change it to 0000-0900 or 0100-0900?
2) The daily high or low that you take is GMT based? That is, you take 0000-2400GMT as the daily range?
3) Even after TP1 is hit, you dont move your SL to BE?
Thanks

Hi

1,2) I live in Europe. My time ( and broker time ) is GMT. So I think that I don`t have to change anything. Daily low/high is based on GMT

3) Result is based on " set and forget " rule.

Cheers.